MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NUFARM S.A. |
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Formerly Known as : |
AGTROL INTTERNACIONAL ARGENTINA S.A. |
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Registered Office : |
Edificio Panamericana Plaza", Tronador 4890, piso 14o.,
(C1430DNN), Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
21.04.1999 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Commercialization and Importation of Herbicidas, Insecticides,
Fungicidas, foliares Regulators of growth and Fertilizers products among
other products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Registered Name
NUFARM S.A.
CUIT No.: 30-70052897-5
Summary
INCORPORATED IN 1999. BEGINNER OF THE ACTIVITIES THAT IT REALIZES. ITS
AUTHORITIES REFUSED TO SUPPLY ANY FINANCIAL INFORMATION. BALANCE SHEET AS OF
31ST PF JULY 2006 DISPLAYS A HIGH LEVEL OF INDEBTEDNESS, A POOR PROFITABILITY
AND DEFICIT RESULTS. IT DOES OT HAVE NEGATIVE PRESEDENTS. IN CASE OF CREDIT
TREATMENT IT IS ADVISABLE TO OPERATE PRUDENTLY AND WITH THE REQUIREMENT OF
SUITABLE GUARANTEES.
Operations
CHEMICAL-FARMING
IMPORTATION
COMMERCIALIZATION
Legal Structure
Business Type: Public Limited Company
Constituted: 21/04/1999
Registered in: Buenos Aires City
Duration: 99 years
End of fiscal year: July
31st
Contact
Accountant: Alejandro Urzo.
Headquarters: "Edificio Panamericana Plaza", Tronador 4890, piso
14o., (C1430DNN), Buenos Aires City, Argentina.
Phone: (54-11) 4546-7900/7925
Partners
President:
GILBERTO SCHIAVINATO
Vice-president: PAULO FERREIRA GOMES SILVA
Main Director: FABIO DE FELIPPIS
Main Director: ULRICK EKONEN
Main Director: ALAN ARNTSEN
Substitute Director: CRISTIAN ALBERTO KRUGER
The first two mentioned ones are in charge of the social signature.
Corporate Stock
The company's corporate stock is established
in $ 100,000.- which has been totally subscribed and paid in. It is represented
by the same quantity of common and registered shares, of nominal value $1,00
each.
Which is contributed by the following ones:
> NUFARM AMERICAN INC. ....................... 95 %
> NUFARM HOLDINGS GROUP ...................... 5 %
History
The registered information shows that the
society was initiated at the beginning of the year 1999, to develop the
activities previously exposed, as AGTROL INTTERNACIONAL ARGENTINA S.A.
It was normally developing its activities until the 03/01/2002, when it changes
its name to the current one. Performing its activities from the previously
mentioned address.
Fit`s to highlight that the company is partner of a very well known Australian
company.
Is one of the top 10 producers and providers of chemical-farming products,
leading in its market.
Its headquarters is located in Melbourne, Australia, constituted in 1953 by Mr.
Max Fremder, who is one of the main suppliers of active substances Technical
Degree for the elaboration of herbicides. It also synthesize and produces
fungicides, insecticides, etc.
Referring to NUFARM AMERICA INC., it has more than 2400 registered products in
more than 100 countries, it also has plants in Australia, New Zealand, Canada,
France, England, Holland, Spain, Malaysia, Indonesia, Egypt, South Africa.
Economic-Financial Position
Contact was made with Mr. Alejandro Urzo,
Accountant of the company, to whom we required the up-dated information.
Who mentioned that, due to the current regulations of the company, such
information is not supply to third parties.
For that reason other sources were consulted, obtaining the following partial
figures of the balance sheet finished the 31/07/2006, which is the last one
known:
ASSETS:
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CURRENT $ 36.059,182 (82,6%)
NOT CURRENT
$ 7.617.187 (17,4%)
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$
43.676.369
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LIABILITIES:
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CURRENT $ 6.209.017 (14,2%)
NOT CURRENT $
36.530.513 (83,6%)
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$ 42.739.530
NET WORTH $
936.839 (02,1%)
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$ 43.676.369
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SALES $ 74.739.011
FINAL PROFIT $
(2.832.897)
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The figures above exposed shows a high level of indebtedness, even though it
has a good liquidity index, the period has been ended with an important loss.
Parent/Related Companies
> NUFARM AMERICAN INC. (Controlante)
> NUFARM HOLDINGS GROUP (Controlante)
Evolution and Results
During the last 12 months it has realized
imports for US$15,281,241.-, from the following countries:
CHINA..................7.567.410
INDIA..................3.935.832
GERMANY-...............1.500.530
OTHERS.................2.277.479
The products imported were organic and inorganic compound, heterociclicos
compounds and related products.
The company is engaged to the commercialization and importation of Herbicidas,
Insecticides, Fungicidas, foliares Regulators of growth and Fertilizers
products among other products, brand name:
Herbicides:
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Navajo
Butoxone E
Weedone
Acetoclor 90
Atrazina 50
Mextrol
Dicamba
Debit
Credit
Rhomene MCPA 28
Metsulfuron metil 60 WG
Paraquat
Insecticides:
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Abamectica 1,8
Cipermetrina 25
Clorpirifos 48
Endosulfan 35
Matrero 60
Matrero 35
Metamidofós 60
Lambdacialotrina 5
Fenitrotion 100
Fungicides:
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Caberndazim 50 y 75
Champion
Mancozeb 75 y 80
Oxicloruro
Tebuconazole 20
Tebuconazole 6 FS
Tebuconazole 43
Regulators of growth:
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Tobago
Fertilizers products:
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Phostrol
It is situated in the previously mentioned addres, using other companies
warehouses.
* 30 EMPLOYEES
MAIN SUPPLIERS:
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MONSANTO ARGENTINA S.A.
ATANOR S.A.
INDO FILM (India)
Payment Record and Credit
Risk
BANCO SANTANDER RIO
Suc.Belgrano
BANCO COMAFI
INSURANCES:
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SEGUROS LIBERTY S.A.
CREDIT RISK:
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MAY 2008
BANCO SANTANDER $ 11.086.900 SITUATION 1
BANCO COMAFI $ 267.100 SITUATION 1
SITUATION 1: NORMAL ACCOMPLISHMENT
Concept
Currently the society does not have any
negative precedent tha may detriment its general image in the market, and from
the research made it could be notice that the society is accomplishing its
obligations without major inconvenients.
* ACCOMPLISHMENT: WITHOUT OBJECTION
Final Opinion
Finally, we consider suitable the credit
relationship with this company, in order to have a better control over the
money exposed it is advisable to operate with prudential amounts with the
requirement of secure guarantees.
FOR CREDIT TREATMENT OPERATES OVER PRUDENTIAL AMOUNTS AND SECURE BASES.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)